Applying for a payday loan is a relatively simple process and most payday lenders
now offer the option to apply online for an immediate cash advance loan up to a value of 1,500. However, the important thing to remember when applying for a payday loan is to always check the terms and conditions of the particular lender to which you submit your application. This is particularly the case if you are applying through a payday loan broker "" a payday loan broker will send your payday application to multiple lenders all from one form and in essence you may receive an offer of the loan amount requested from only a selection of the lenders submitted to.
There are various charges that can crop up unexpectedly when you apply for a payday loan but the most often sighted is that of the same day transfer charge. Same day transfers are something of a new and novel concept for payday lending "" the same day transfer allows payday lenders to deposit cash into your bank account within the space of 24 hours, this is something that only a few years ago wasn"t available. While most banks have the facilities in place to allow this kind of transaction to take place, some smaller banks still cannot accept same day cash transfers so it"s important prior to applying for a loan to check with your bank whether or not they can accept this form of transfer.
The cost of a same day transfer varies greatly between lenders "" some lenders will charge as little as 4.95 whereas other lenders can charge anything up to a value of 25. Just because you have requested a same day transfer however it does not mean that the money will arrive in your bank account of the same day you applied. For example, you may submit your application late in the day and thus the transfer may not take place till the next working day.
Qualifying for a same day transfer of cash depends upon when you submit your application, how long it takes the lender to process your application and also on whether or not your bank accepts same day transfer. Make sure everything is in place prior to applying for a same day payday loan by checking the terms and conditions on a lenders website and approaching your bank.